Malaysia’s exports and imports rise in May
Accordingly, the country’s exports rose by 32.5% year-on-year in May and beat the economists’ expectations of an increase of 23.4%. This stemmed from the yearly increases in electrical and electronic products and refined petroleum products by around 31% and 76%, respectively.
On a monthly basis, the country’s exports also rose by 7.5%.
The data also showed that country’s imports increased by 30.4% year-on-year in May. This increase was driven by increases in imports of intermediate goods, capital goods and consumption goods by 34%, 7% and 8%, respectively.
The data revealed that the monthly increase in the country’s import was 13.3% in May.
The trade surplus of the country increased by about 67% year-on-year to MYR 5.5 billion ($1.28 billion) in May from MYR 3.3 billion in May 2016 ($760 million). However, it fell by about 36% in May on a monthly basis.
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